Jon Christianson Sells 1,937 Shares of Palomar (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 1,937 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $128.62, for a total transaction of $249,136.94. Following the sale, the president directly owned 65,919 shares in the company, valued at approximately $8,478,501.78. This represents a 2.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jon Christianson also recently made the following trade(s):

• On Tuesday, April 7th, Jon Christianson sold 3,000 shares of Palomar stock. The stock was sold at an average price of $125.00, for a total transaction of $375,000.00.
• On Wednesday, February 18th, Jon Christianson sold 522 shares of Palomar stock. The stock was sold at an average price of $128.04, for a total transaction of $66,836.88.
• On Saturday, January 31st, Jon Christianson sold 515 shares of Palomar stock. The stock was sold at an average price of $121.75, for a total transaction of $62,701.25.
• On Saturday, January 31st, Jon Christianson sold 515 shares of Palomar stock. The stock was sold at an average price of $121.75, for a total transaction of $62,701.25.
• On Thursday, January 29th, Jon Christianson sold 1,158 shares of Palomar stock. The stock was sold at an average price of $122.04, for a total transaction of $141,322.32.
• On Thursday, January 29th, Jon Christianson sold 1,158 shares of Palomar stock. The shares were sold at an average price of $122.04, for a total transaction of $141,322.32.
• On Wednesday, January 28th, Jon Christianson sold 1,991 shares of Palomar stock. The shares were sold at an average price of $119.88, for a total transaction of $238,681.08.

Palomar Price Performance

Shares of NASDAQ PLMR traded up $1.38 during mid-day trading on Thursday, hitting $131.41. The company’s stock had a trading volume of 176,943 shares, compared to its average volume of 252,133. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 18.30 and a beta of 0.54. Palomar Holdings, Inc. has a one year low of $107.75 and a one year high of $175.85. The company’s fifty day simple moving average is $123.93 and its 200-day simple moving average is $123.75.

Palomar (NASDAQ:PLMR) last issued its earnings results on Wednesday, February 11th. The company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.18. The company had revenue of $253.36 million for the quarter, compared to analyst estimates of $204.58 million. Palomar had a net margin of 22.50% and a return on equity of 22.77%. The company’s revenue for the quarter was up 62.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.52 EPS. On average, sell-side analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Palomar from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. raised their target price on shares of Palomar from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Evercore assumed coverage on shares of Palomar in a research report on Monday, February 9th. They issued an “outperform” rating and a $150.00 price target on the stock. Wall Street Zen downgraded shares of Palomar from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Finally, Keefe, Bruyette & Woods increased their price target on shares of Palomar from $183.00 to $186.00 and gave the company an “outperform” rating in a research report on Tuesday, April 7th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $161.75.

Institutional Trading of Palomar

A number of hedge funds have recently modified their holdings of the company. Summit Global Investments raised its position in shares of Palomar by 1.7% in the 4th quarter. Summit Global Investments now owns 4,646 shares of the company’s stock valued at $626,000 after acquiring an additional 79 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Palomar by 3.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,546 shares of the company’s stock valued at $333,000 after acquiring an additional 82 shares during the period. Quadrant Capital Group LLC raised its holdings in Palomar by 2.0% during the 4th quarter. Quadrant Capital Group LLC now owns 4,464 shares of the company’s stock worth $602,000 after buying an additional 88 shares during the period. Clearstead Advisors LLC raised its holdings in Palomar by 31.0% during the 3rd quarter. Clearstead Advisors LLC now owns 397 shares of the company’s stock worth $46,000 after buying an additional 94 shares during the period. Finally, California State Teachers Retirement System raised its holdings in Palomar by 0.4% during the 2nd quarter. California State Teachers Retirement System now owns 24,207 shares of the company’s stock worth $3,734,000 after buying an additional 97 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

About Palomar

Palomar Holdings, Inc (NASDAQ: PLMR) is a specialty insurance holding company focused on providing medical stop-loss coverage and related administrative services to self-funded employer health plans in the United States. The firm operates through two primary business segments—Medical Stop-Loss and Specialty Program Management—to deliver tailored risk protection and comprehensive program administration.

In its Medical Stop-Loss segment, Palomar underwrites excess and aggregate stop-loss policies designed to shield self-insured employers from catastrophic medical claims that exceed pre-determined retention levels.